Ally Financial is exploring close to 200 use cases in-house for generative AI as it looks to increase efficiencies at the $197 billion bank.  

Ally is developing its generative AI in-house and launched beta testing in June, Sathish Muthukrishnan, chief information, data, and digital officer, told Bank Automation News. 

“We have set a goal that we will at least launch one use case per month,” Muthukrishnan said, adding that the bank aims to launch a generative AI-driven marketing campaign by the end of September or early October.

“Generative AI is breaking the writer’s block for our marketing team, giving us the right words and the right content to use,” Muthukrishnan said. 

Ally is seeing a significant shift in its test population, an in-house beta team, which used gen AI on actions taken by customers or prospects and how it’s driving customers to the right location within its digital footprint, Muthukrishnan said. 

The bank’s AI-driven platform is Ally.ai, an internal solution introduced last week that houses the company’s enterprise AI capabilities including secure large language models.

Ally’s customer centers field between 30,000 and 60,000 calls each week and Ally.ai summarizes them with an accuracy rate of close to 85%, Muthukrishnan said. The AI platform summarizes calls between customers and representatives, highlighting talking points from the conversations. 

Gen AI applications 

AI adoption is growing among financial institutions as the industry braces for disruptive change from gen AI, according to an August McKinsey & Co. report. 

The report, which surveyed 1,684 people in April, found nearly 8% of respondents who work in financial services said they use gen AI regularly for work, while 41% said that they have used it at least once.  

Financial institutions are using gen AI for multiple use cases. For example, Norway-based DNB is looking to implement gen AI into its customer representative chatbot, Juno, to increase employee efficiencies. 

Similarly, digital bank Brex rolled out a gen AI chatbot last week, to help corporate customers better manage expense reports.